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Can I deduct my iPhone?
Here’s what the CPA’s have to say
The IRS claims that you can deduct any expense that is related to your profession as long as it is considered common and helps your business.
But it’s difficult to figure out what is considered a legitimate business expense.
Here, if you’re a freelancer who regularly and exclusively uses a smartphone for business purposes, then you can claim it as a deduction. If you use a personal cell phone for business, then the regular monthly expenses will not qualify as a deduction. To deduct the expense, you will be required to calculate the business-use percentage of the mobile phone on a month-by-month basis.
Can you take your iPhone 13 as a tax deduction?
The IRS allows you to write off certain equipment you use as a business expense. So, if you wish to deduct your iPhone 13 from your taxes, you can do so as long as you use your smartphone mostly for business. The IRS lets you deduct its purchase price and service fees.
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Can you claim an iPhone 13 as a business expense?
With smartphones reaching omnipresence, it has become a significant part of every individual life and the dominance of the 'always on' culture has led one to conduct a majority of their business through the ease of their smartphones.
So, if you’re someone who uses their iPhone 13 for business purposes, you may be entitled to claim a tax deduction for the costs incurred. But for most of us, cellphones are also linked to our personal lives, so it’s a deduction that the IRS scrutinizes very carefully to make sure personal electronics use isn’t being claimed as a business expense.
Some freelance professions where you can claim the tax deduction include:
- Photographers
- Social media influencers
- Entrepreneurs
- Writers
- Food Bloggers
- Graphic Designers
- Travel Bloggers
Who can claim an iPhone 13 as a deduction?
To deduct any expense, it must be directly related to your business. If you’re a freelancer and are conducting your business activities from your smartphone, then you can deduct claim a deduction for the same. Some of the freelancers who can claim the tax deduction include:
Artists:
As an artist, you may use your phone for arranging meetings with your clients and also for clicking pictures for reference. You can determine your business usage of your phone can claim a deduction for the same.
Social Media Influencers:
As a social media influencer, a majority of your work is conducted through your phone, from preparing videos to writing blogs, you need your smartphone to finish up all these tasks. Thus, you can deduct the cost of your smartphone.
Moreover, you can also deduct the cost of your weekly planner app or any other subscription that you use for your business.
Food Blogger:
As a food blogger, you are bound to click pictures of the food you eat for reviews, wherein you may rely on your smartphone. For photography purposes, you will require high-quality images, so if you invest in an iPhone 13 for the betterment of your business, you can claim it as a legitimate deduction.
There are some other professions that allow you to deduct hair care as a tax write-off.
Click here to find out how FlyFin can help you to take this as a deduction.
Frequently asked questions
FAQs
What documentation do I need to claim a smartphone as a deduction?
How to claim this deduction?
Can I claim a deduction for phone calls?
Can you claim a deduction on a leased mobile phone?
What’s FlyFin?
FlyFin caters to the tax needs of freelancers, gig workers, independent contractors and sole proprietors.
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